CHEM-TREND CHEMICALS COMPANY PVT. LTD, BANGALORE V. ACIT 15(1)(2), Mumbai

ITA 335/MUM/2019

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 3792 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 4 month(s) 8 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 02-06-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2010-2011
• Appeal Filed On: 24-01-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Section: 201

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL , C BENCH MUMBAI BEFORE : SHRI M.BALAGANESH, A CCOUNTANT M EMBER & SHRI PAVAN KUMAR GADALE , JUDICIAL MEMBER ITA NO. 335 /MUM/ 20 19 ( ASSESSMENT YEAR : 201 0 - 1 1 ) M/S. CHEM - TREND CHEMICALS COMPANY PVT. L TD., 3 RD FLOOR, SILVER JUBILEE BLOCK, 3 RD FLOOR MISSION ROAD, BANGALORE - 560027 VS. ACIT - 15(1)(2) AAYAKAR BHAVAN NEW MARINE LINES MUMBAI 400 020 PAN/GIR NO. AABCC7107N (APPELLANT ) .. (RESPONDENT ) ASSESSEE BY NONE REVENUE BY MS. SHREEKALA PARDESH I DATE OF HEARING 02 / 06 /202 1 DATE OF PRONOUNCEMENT 02 / 06 /202 1 / O R D E R PER M. BALAGANESH (A.M) : THIS APPEAL IN ITA NO. 335/MUM/2019 FOR A.Y. 2010 - 11 ARISES OUT OF THE ORDER BY THE LD. COMMISSIONER OF INCOME TAX (APPEALS) - 24, MU MBAI IN APPEAL NO. CIT(A) - 24/ACIT 15(1)(2)/IT - 149/16 - 17 DATED 31/10/2018 (LD. CIT(A) IN SHORT) IN THE MATTER OF IMPOSITION OF PENALTY U/S. 271C OF THE INCOME TAX ACT, 1961 ( HEREINAFTER REFERRED TO AS ACT). ITA NO . 335/MUM/2019 M/S. CHEM - TREND CHEMICALS COMPANY 2 2. WE FIND THAT THE ASSESSEE FILED A LETTER DATED 2 2/03/ 2 021 MENTIONING THAT AN APPLICATION HAD BEEN PREFERRED UNDER DIRECT TAX VIVAD SE VISWAS SCHEME 2020 TO SETTLE THIS TAX DISPUTE FOR THE YEAR UNDER CONSIDERATION AND HAD OBTAINED FORM - 3 FROM THE DESIGNATED AUTHORITY THEREON, COPY OF WHICH WAS ENCLOSED ALONGWITH THIS LETTER. 3. IN VIEW OF T HIS, WE HEREBY TREAT THE APPEAL PENDING BEFORE US AS DISMISSED AND WITHDRAWN WITH A LIBERTY GIVEN TO THE ASSESSEE TO GET THE APPEAL RESTORED IN THE EVENT THAT ASSESSEES DECLARATION MADE UNDER VIVAD SE VISWAS SCHEM E 2020 IS DECLARED BAD IN LAW IN FUTURE FOR ANY REASON WHATSOEVER. 4. IN THE RESULT, APPEAL OF THE ASSESSEE IS DISMISSED. ORDER PRONOUNCED IN OPEN COURT ON 02/06/2021. SD/ - ( PAV AN KUMAR GADALE ) SD/ - (M.BALAGANESH) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI ; DATED 02 / 06 / 2021 KARUNA , SR.PS ITA NO . 335/MUM/2019 M/S. CHEM - TREND CHEMICALS COMPANY 3 COPY OF THE ORDER FORWARDED TO : BY ORDER, ( ASSTT. REGISTRAR) ITAT, MUMBAI 1. THE APPELLANT 2. THE RESPONDENT. 3. THE CIT(A), MUMBAI. 4. CIT 5. DR, ITAT, MUMBAI 6 . GUARD FILE. //TRUE COPY//